NEW DELHI, 9 June (H.S.):

The Central Government on Tuesday initiated the process of divesting up to a three per cent stake in its Navratna public sector enterprise NLC India Limited through an Offer for Sale (OFS). The floor price for the share sale has been fixed at Rs 303 per share.

According to the company, the OFS opened for non-retail investors on Tuesday, while retail investors will be able to participate in the offer on Wednesday. Shares under the sale offer will be available at Rs 303 apiece, which represents a discount of 9.73 per cent compared to NLC India's closing price of Rs 335.65 on the Bombay Stock Exchange (BSE) on Monday.

Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla announced the stake sale through a post on X, stating that the Government of India is initially offering a two per cent stake in NLC India through the OFS route.

Chawla further said that the government has retained a one per cent greenshoe option, which may be exercised in the event of strong investor demand and oversubscription of the offer.

Highlighting the company's investment potential, he noted that NLC India offers an attractive long-term investment opportunity backed by strong operational and financial performance, consistent returns and an appealing dividend track record.

The government has so far raised Rs 12,166 crore during the current financial year 2026-27 through the sale of minority stakes in public sector undertakings. This includes Rs 5,542 crore from Coal India, Rs 4,357 crore from NHPC and Rs 2.27 crore from Central Bank of India.

The latest stake sale is part of the government's broader disinvestment programme aimed at raising resources while improving public participation in state-owned enterprises.

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Hindusthan Samachar / Jun Sarkar